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The dollar is falling after expectations of a slowdown in the pace of interest rate hikes

News Date: 24/11/2022 05:23:41
 

 

The dollar fell today because of investors’ appetite for risky assets. The dollar index, which measures the performance of the US currency against a basket of six major currencies, fell by 0.14% to 105.75, after declining 1% yesterday evening, Wednesday.

 

The euro rose by 0.39% to $1.0435, while the pound sterling recorded, in its latest trading, an increase of 0.43% to $1.2090. The pound jumped by 1.4%, while the Australian dollar increased by 0.25% to $0.675, while the New Zealand dollar increased by 0.17% to $0.6255.

 

Oil headed towards its lowest levels during the current year 2022, as :

West Texas crude fell during today’s trading by approximately $77.3 a barrel, down by 0.6%.

the benchmark Brent crude is heading towards its lowest levels during the year, as it fell near levels of $82 a barrel, and Brent crude fell during today’s trading to levels near $84.44 a barrel.

Brent crude futures prices fell by 3.3%, to $85.41 a barrel, while the price of US West Texas crude futures fell by 3.7%, to $77.94 a barrel.

 

 

Spot gold prices also declined marginally, by 0.44%, to reach $1,757.42 an ounce.

On the other hand, silver futures contracts for February delivery increased by 1.18% to $21.78 an ounce.

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